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ONGC Mangalore Petrochemicals Limited (OMPL) is an Indian company promoted by Oil and Natural Gas Corporation (ONGC) and Mangalore Refinery and Petrochemicals Limited (MRPL). Both ONGC and MRPL hold respectively 49% and 51% stake in the company.OMPL is a Subsidiary Company of MRPL and also a PSU behalf of share pattern of OMPL.
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On 28 March 2003, ONGC acquired A.V. Birla Group's stake and further infused equity capital of ₹600 crores making MRPL a majority-held subsidiary of ONGC. [7] [5] The lenders also agreed to the debt restructuring package (DRP) proposed by ONGC, which included, inter alia, conversion of up to ₹3,65,54,884 of the company's loans into equity ...
A freight ship, oil rig, and four vessels that serviced ONGC's off-shore operations were caught in the cyclone. ONGC held a crew of 261. The men who became stranded on their vessels were maintenance staff. 188 men were rescued from the ships, and 26 bodies were recovered while the search continued for the remaining 47 men. [92]
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